Thomas Cook pilots will go on strike this Saturday after talks to resolve a pay dispute fell through, according to the Press Association.

The strike by members of the British Airline Pilots Association (Balpa) will last for 24 hours, after unions and the travel firm failed to reach agreement over five days of negotiations.

On 8 September pilots at the airline went on strike for the first time since 1974. The dispute centred on an increased pay offer below the rate of inflation, which the union has criticised as a real terms cut.

Meanwhile, Italian competition authorities have opened an investigation into Ryanair, after the Irish carrier cancelled thousands of flights because of a mistake with pilot holiday entitlements.

In a statement published today, the Italian Competition and Market Authority said it was looking into “allegedly incorrect commercial practices” at the airline. The cancellations could constitute a “breach of the duty of diligence”, the authority said.

The authority will look into whether the cancellations can be attributed to “organisational and management reasons” rather than causes outside Ryanair’s control.

They will also scrutinise how well Ryanair informed its customers of their rights to compensation for the cancellations.